Four marijuana firms to form multinational company, continuing industry consolidation

By Lisa Bernard-Kuhn Consolidation continued in the cannabis industry Tuesday, with four major marijuana companies from the United States and Canada merging to launch a multinational company with combined revenue forecast to total more than $200 million next year. Operating under the name TILT Holdings, the new companies will include the combined operations of Baker Technologies, Sea Hunter, Briteside and Santa Veritas Therapeutics, according to a news release. The merger creates a unique cannabis conglomerate – with operations in 24 states and Canada and specialties in cannabis tech, cultivation and support solutions. TILT is forecasting revenue of $70 million in 2018 and in excess of $200 million by the end of 2019. Here’s a snapshot of each entity’s reach and scope: The firm said it will use its combined capital for acquisitions and infrastructure as it continues to grow, said Alex Coleman, TILT’s CEO. “Our platform will allow us to get into new markets and grow at a lower cost in less time,” Coleman told Marijuana Business Daily, adding that the firm expects to launch in every state that legalizes cannabis. Four marijuana firms to form multinational company, continuing industry consolidation

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